Economics

Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek ??????µ?a (oikonomia, 'management of a household, administration') from ????? (oikos, 'house') + ??µ?? (nomos, 'custom' or 'law'), hence 'rules of the house(hold)'.[1] Current economic models emerged from the broader field of political economy in the late 19th century. A primary stimulus for the development of modern economics was the desire to use an empirical approach more akin to the physical sciences.